October 2026
Largest Public Companies in Ukraine
Benchmark revenue and EBITDA valuation multiples for public comps like
Kyivstar Group, MHP, IMC SA, ASTARTA Holding and Ukrtelecom.
 | Kyivstar Group Ltd is engaged in mobile communication. | $12 | -12% | $2.9B | $2.9B | 2.5x | 6.3x | ||
| MHP SE is a Ukraine-based company engaged in the poultry farming business. The company operates in four segments: the Poultry & Related Operations Segment, the Vegetable Oil Operations Segment, the Agricultural Operations Segment, and the European Operating Segment. The poultry and related operations integrate all functions related to the production & sale of chicken products, vegetable oil, and mixed fodder. The Vegetable Oil Operations Segment comprises production and sales of vegetable oil and related products. The Agricultural Operations Segment produces grain-growing operations and milk cattle farming. The European Operating Segments sales of poultry meat and processed meat products. It generates the majority of its revenue from the poultry and related operations segment. | $6 | 0% | $602M | $2.9B | 0.8x | 4.6x | ||
| IMC SA is an integrated agricultural company operating in Ukraine. The company's activities are the cultivation of grain and oilseed crops, potato production, dairy farming, storage, and processing of grain and oilseed crops. The Group operates in segments: crop farming, elevators, and warehouses. The crop farming segment deals with the cultivation and sale of such basic agricultural crops as corn and wheat. The Elevators and warehouses segment deals with the storage and processing of agricultural produce. The company generates the majority of its revenue from the Crop farming segment. | $8 | +9% | $272M | $386M | 2.0x | 4.0x | ||
| ASTARTA Holding NV is an agro-industrial company. Through its subsidiaries, the company is engaged in the cultivation of sugar beet, grains, and oilseeds, the production of sugar, and related products. In addition, it is also involved in crop growing, soybean processing, and cattle farming. The operating segments of the company are Sugar, Cattle farming, agriculture, and Soybean processing. The majority of the company's revenue is derived from Ukraine. The company has four operating segments: production and wholesale distribution of sugar (sugar production); growing and selling of grain and oilseed crops (agriculture); dairy cattle farming (cattle farming); and soybean processing. Geographically, the company generates revenue from Ukraine, Europe, Asia, and Other. | $10 | -23% | $235M | $472M | 0.9x | 4.3x | ||
| Ukrtelecom PJSC operates a telecommunications network that offers telephone services, which include international, long-distance, and local telephony; data transmission and construction of private virtual telephone networks; Internet services, including switched and broadband Internet access, permanent IP-connection through a dedicated line; hardware and virtual hosting. It operates through two segments are Fixed-line telecommunications and Mobile telecommunications. Geographically it operates through Ukraine. | -- | $0 | -- | $26M | $32M | 0.3x | (0.6x) | |
| Coal Energy SA operates through its Polish subsidiary, which provides services to coal companies in Poland. | $0 | -38% | $20M | $22M | 5.9x | (17.9x) | ||
| TMM Real Estate Development PLC operates as a real estate development and construction company and develops the construction of residential complexes on a turnkey basis, which covers all complex construction and fine finishing works as well as post-construction utility services for the completed projects. It operates in the following segments: Investment Property; Property Development & Construction; Utility and Management Services; and Air Mobility Solutions. The Investment Property segment leases residential and commercial property owned by the group. The Property Development & Construction segment builds and sells residential and commercial property and renders construction services. The Air Mobility Solutions segment earns the majority of revenue. | -- | -- | $12M | $12M | 0.6x | 5.2x | ||
| Milkiland Foods PCL is a Netherland-based company engaged in the production and distribution of dairy products. It is organized into three segments which include Whole Milk products, which involves the sale of milk and milk products; Cheese and Butter products, which comprises of hard, soft and processed cheese, as well as packaged butter; and Ingredients, which includes products such as skimmed milk powder, and full cream powder. Geographically, it operates in Russia, Ukraine, Poland, and the Netherlands. It generates the majority of its revenues from the Whole Milk products in Russia. | $0 | -- | $11M | $86M | 0.6x | 17.8x | ||
| KSG Agro SA operates in the agricultural sector with activities in Ukraine and Poland. The company operates through three main segments: Crop Farming, Pig Breeding, and Other Services. The Crop Farming segment produces various crops, including sunflower, corn, wheat, barley, and rapeseed, along with providing land cultivation services. The Pig Breeding segment focuses on breeding Danish purebred sows and the sale of pigs and piglets. The Other segment encompasses the production of fuel pellets and thermal energy, wholesale trade of crops and other goods, and offers services such as pork processing. Maximum revenue is from the Crop Farming segment. KSG Agro aims to supply agricultural products through its integrated operations and maintains a presence in multiple countries across Europe. | $1 | -25% | $11M | $26M | 1.2x | 4.8x | ||
| UKrproduct Group Ltd is a holding company for a group of food and beverage businesses located in Ukraine. The principal activities of the group are the production and distribution of branded dairy foods and beverages (kvass) in Ukraine and for export of milk powder. It produces branded food in Ukraine with its own nationwide distribution network. Its segments include Branded products produce processed cheese, hard cheese, packaged butter and spreads; Beverages produces kvass, other beverages; non-branded products produce skimmed milk powder, other skimmed milk products; and Distribution services and other produce resale of third-party goods and processing services. The majority of the revenue is derived from the Branded products segment. | $0 | +1% | $4M | $12M | 0.2x | 5.8x | ||
| Median | $1 | -12% | $23M | $59M | 0.8x | 4.7x |
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